posted on July 18, 2006 06:33:16 PM new
Hi
How do you feel about using Moneybrookers.com for International transactions on Ebay?
I was checking out there site and wanted to know what you think or if anyone has been using them.
Sellers:
Get paid instantly - no long waiting times for funds clearance
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Payments can be received from almost every corner in the world - with Moneybookers auctions can finally benefit from the Internet's biggest advantage: being borderless.
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Moneybookers is a hard currency. As a general rule: payments once made are irrevocable.
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Receiving money is free!
posted on July 18, 2006 06:51:08 PM new
Toni...I haven't had a chance to really check them out yet, but it's one company I'm definitely interested in. Agitprop has used them quite a bit, and seems to speak fairly highly of them. If we can get him in here, he can give us some first hand advice.
If Murphy's law is correct, everything East of the San Andreas Fault will slide into the Atlantic
posted on July 18, 2006 10:01:38 PM new
I've used Moneybookers on and off for about four years and mostly to collect payments from Euro zone customers and an odd few in China, the Gulf states and Asia. (This was before the EU decided to make cross-border transfers within the EU free or low cost under directive 2560/2001.) It works fine for me but to be honest most of my European customers now simply do a BIC + IBAN transfer to my Euro bank account since it's easier and usually free for both parties. Customers in other countries usually can deposit direct to one of my bank accounts in their country.
US sellers can also download funds to a nominated Visa/Mastercard (but Moneybookers don't really publicize this feature) - it costs around €2.00. They can issue USD checks drawn on a US bank for a €3.50 fee. Usually it's best to wait until the balance is substancial before cashing out, rahter than sweeping it out after each transaction. Unlike PayPal, EU online funds are regulated so your money is safer.
Mind that you open an account in a currency you bank will accept without fees: USA account holders should open USD denominated accounts so they won't incur additional bank charges from their fee hungry US bank (ala Compass as mentioned by tom).
posted on July 19, 2006 05:56:39 AM new
Good-morning!
Thank your Sparkz, Tom, and Agit for all your input.
When my International customers use paypal I pay an extra fee, and if the package gets lost in customs they can do a charge back to pp. (Never happened yet to me but it is a worry)
So I was thinking that by using moneybrookers International buyers can not do a charge back.
I would do like agit said let the money sit till its a larger amount and then have a wire or check sent to me, this way you pay the fee once for the larger amount of money. Because the fee is the same no matter what the amount is. (I think) I need to read more on the site.
Maybe the money that is sitting there can be used to pay Ebay bill.
Question, is the E50 the same as $50.00?
and E3.50 is that the same as $3.50
My daughter just got back from Italy and when she was there she cashed in 1,000 US dollars and got back I think it was E750.00
or something close to that.
Do you know if this happens when we accept money with moneybrookers from International buyers or do we get the full amount since there dollar is stronger. I don't understand the exchange of the money to good
posted on July 19, 2006 08:15:12 AM new
E50 is worth more than US 50 dollars,you have to convert E50 to US dollars using the exchange rate.
If your item is sold on Ebay USA in US dollars,your European bidder will have to find a way to pay you in US dollars.
posted on July 19, 2006 04:44:13 PM new
Actually with Moneybookers it easier than suggested. All you do is bill your customer in USD and they deposit the corresponding in Euros, Moneybookers converts it to US$ and you get paid the full amount due without deduction of fees (sender pays those which are really low anyway). The key is to choose the appropriate currency for you when you open your Moneybookers account as you cannot change it later.
posted on July 19, 2006 04:49:31 PM new
I haven't had a chance to read the entire site yet but I will and if I decide to sign up then is this the one I should choose
USD denominated accounts
Also does that mean I don't need to know the Euro conversion?
posted on July 20, 2006 07:03:38 PM new
toni wrote: Also does that mean I don't need to know the Euro conversion? I am in USA.
Doesn't concern you since you simply bill your customers in USD and they pay Moneybookers in their preferred currency, who then convert it to USD so you get the full amount without deduction (no hefty fees like PayPal). When your USD balance is large enough you withdraw to your Visa/Mastercard or by wire, check, etc.
posted on July 20, 2006 07:35:21 PM new
Where do you find VISA withdrawls for USA members? I cannot find THAT anyplace on the site, nor what the fee for that (if any) would be? If you know the FEE, please post the LINK & the AMOUNT...
Tonimar:
If a USA seller does a huge number of INTERNATIONAL sales, then MB might make some economic sense...HOWEVER, if yer like me & do only 1-2/month, then MB can be very expensive to use...
They allow USA sellers to withdraw moola TWO ways:
1) BANK TRANSFER: at a charge of $2.28 -- HOWEVER, it is extremely important that you check with YOUR bank to determine if YOUR bank charges a fee for INCOMING moola? Mine (COMPASS) charges $12.00
2) CHECK ON USA BANK IN USD: if selected, they will mail you a check drawn on a USA bank in USD, so your bank shouldn't charge you ANY FEE to deposit this. HOWEVER, MB will charge you $4.43 for the check!
Like I say, if yer INTERNATIONAL presence is large, then MB may just be the ticket -- it sure AIN'T for Ralphie & me...
posted on July 21, 2006 03:13:15 AM new
tomwii wrote: Where do you find VISA withdrawls for USA members? I cannot find THAT anyplace on the site, nor what the fee for that (if any) would be? If you know the FEE, please post the LINK & the AMOUNT...
Some US based CC's will not allow monies to be uploaded to Moneybookers, this is a frequently discussed issue, and I think it is to do with the ability to use Moneybookers to send payments to Online Casino's ?
Chargebacks, though not too clear from initial readings of the data, what Moneybookers are really saying is that when a buyer sends a seller a payment, they cannot create a recall that payment, it relates only to the Moneybookers transaction, you cannot recall a Moneybookers payment, they are non reversable, BUT, you can reverse the initial payment to Moneybookers, who would then in turn reverse it, if you follow :
See this :
7.4. When Customer receives a payment through the service, he/she is NOT protected against a subsequent reversal of the transaction. Examples of such a reversal include, but are not limited to, a credit/debit card reversal by the sender of the payment and a reversal of the transaction because the sender of the payment was using a stolen credit/debit card or unauthorized bank account.
